New vehicle sales in Malaysia fell by 5.7% to 47,771 in September, from 50,637 units in the same month of last year, according to data gathered by the Malaysian Automotive Association (MAA).

The association said buyers were holding back for the government’s 2015 budget announcement as well as adjusting to tougher lending conditions.

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Cumulative nine-month sales were up by less than 1% to 492,305, from 487,970 units in the same period of last year while local production increased by 8% to 452,167 units in the same period.

Delivery of new models such as the Perodua Axia and Proton Iriz should help underpin sales in the fourth quarter.

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